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Here are some musings about the big indexes, as noted in the captions. It seems that exhaustion finally took hold this week, with trade war concerns bubbling over once more.

Volatility was in a free-fall for weeks, but the index finally bottomed out last Friday.

The Dow utilities have respected the trendline as resistance for months now.

The semiconductor index has maintained its series of lower highs. Importantly, Nvidia (NVDA) will report earnings after the close on Wednesday.

Small-caps have been banging inside their Fibonaccis for years now. For some reason, the cash market shows the closest Fib as support, whereas the RTY futures show it as resistance.

Tech stocks got close to the midline, but they now seem to be weakening away, illustrating that midline’s importance as resistance.

The Dow Industrials index looks to be challenging its half-decade trendline once more.

Looking closer, we can see the Nasdaq composite pushed toward its remaining overhead supply. It is now starting to sell off for the first time in weeks.

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